PNP promises $1-billion boost for creative industry
Published:Saturday | March 15, 2025 | 12:09 AMKimone Francis/Senior Staff Reporter
Opposition Spokesperson on Finance Julian Robinson says a $1-billion fund will be established for Jamaica’s creative industry to drive growth and export talent.
Robinson, who was delivering his 2025-2026 Budget Debate presentation in Parliament on Thursday, said the fund is to be managed by the Development Bank of Jamaica (DBJ).
DBJ provides loans for micro, small and medium-sized enterprises (MSMEs) with annual revenues of up to $150 million and fewer than 50 employees.
The proposed fund, should the opposition People’s National Party (PNP) form the next Government, falls under its Four-E Strategy (Energy, Efficiency, Education and the Emerging Economies).
These economies, Robinson said, are industries in the early stages of development with high growth potential. They are often driven by new technologies, products, services, or ideas and typically have access to natural and productive resources, but also come with high risks, lower barriers to entry, and complex regulatory challenges.
POTENTIAL TO DRIVE GROWTH
The opposition spokesperson said Jamaica’s creative and cultural industries hold immense potential to drive growth, but many talented individuals and small businesses in this sector struggle due to a lack of structured support.
He said emerging TikTokers, YouTubers, and digital content creators are already shaping the global digital content space, building audiences of millions and generating income – all without government involvement.
Robinson said three to four decades ago careers of choice were limited to the law, teaching, accounting, medicine, and engineering but noted that this has changed significantly.
He said the creative industry has become mainstream and offers opportunities for young people.
“Imagine what could be achieved if structured support was in place. With the right investment and policies, the Government can catalyse a creative boom, turning raw talent into globally competitive brands that contribute to Jamaica’s economy,” said Robinson.
SUPPORT
He said a PNP government will support these industries to unlock the full potential of the creative sector, by establishing a $1-billion Creative Economy Support Fund, calling it a game-changer in developing small creative businesses into export-ready enterprises.
“This fund, which will be managed by the Development Bank of Jamaica, is a re-prioritisation of spending, reflecting the PNP’s focus on export-led growth,” said Robinson.
He said the $1 billion will come from discretionary spending within the government’s programmed budget, redirecting funds toward industries with high economic potential.
Further, he said its purpose is to help develop business plans to structure and scale their ventures.
Additionally, Robinson said the intention is to expand into new markets, making Jamaican talent more competitive on the world stage.
He said the fund is to also help create access working capital to sustain and grow stakeholder operations and to build out entertainment spaces for festivals and events, further boosting the tourism and creative economy.
The industry, he said, covers artistes, musicians and athletes, among others.